Gold Bullion Commences 2015 Exploration At Granada in Advance of Planned High-Grade Rolling Production Start
Rouyn Noranda, Quebec / TheNewswire / February 18, 2015 - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to report the start of 2015 Phase 1 exploration in the prolific LONG Bars Zone of the Granada Gold Property. Meanwhile, historical data from over 400 drill holes is in the final stages of being integrated into a new resource model for this important project adjacent to the historical mining community of Rouyn-Noranda, Quebec.
Highlights of current exploration developments:
-
-Trenching is being carried out over strategic areas immediately west and up to 2 km east of the planned high-grade rolling production start area;
-Trenching is designed to demonstrate continuity and extent of mineralization while also defining potential new high-priority drill targets;
-Geochemical water sampling suggests mineralization in this emerging mining camp may extend further west than previously thought.
Management is dually focused on the planned rolling production start, with 25 of the 26 permits received, and upgrading the existing resource estimate from November 2012 using a 1.0 g/t Au cut-off grade as shown in the following table:
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|November 2012 Granada Resource Estimate |
|------------------------------------------|
|Category |Tonnes |Grade (g/t)|Oz. |
|------------------------------------------|
|Measured |7,810,000 |2.14 |536,000 |
|------------------------------------------|
|Indicated|5,347,000 |2.32 |398,000 |
|------------------------------------------|
|Total M&I|13,157,000|2.21 |934,000 |
|------------------------------------------|
|Inferred |8,600,000 |2.23 |617,000 |
|------------------------------------------|
|November 2012 |
|resource estimate |
|for Granada was |
|prepared by SGS |
|Canada Inc. (above |
|table uses 1.0 g/t |
|Au cut-off)Refer to |
|press release dated |
|November 15, 2012 |
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Gold Bullion continues to target higher-grade mineralization in a LONG Bars Zone that stretches up to 8 km east-west. Numerous promising areas, especially extending laterally and to the north, have yet to be systematically explored or require follow-up work, including two corridors of mineralization leading from the planned initial high-grade starter pit area toward the west where a NNE deformation zone appears to be an important structural feature.
Frank J. Basa, Gold Bullion President and CEO, commented: "Our corporate goal is to grow into a 100,000 ounce per-year open-pit producer for 10 years following the rolling start with an underground operation thereafter. With technical consultants GoldMinds Geoservices Inc. and SGS Canada Inc., this large-scale project is in exceptional hands so it is being developed efficiently with industry leading standards."
"Our proposed initial high-grade production, outlined in a robust Prefeasibility Study released in May of last year and based on a gold price of $1,400 CDN, represents just the start of the golden highway at Granada. Our aim is to make 2015 a transformational year for this company," Basa concluded.
The mesothermal structurally controlled vein-type deposit at the 60 sq. km Granada Property remains open in all directions.
Only minimal drilling below the 330-meter vertical mark has occurred thus far at Granada. Initial deep drill holes in a 2012 test confirmed that gold mineralization in the LONG Bars Zone continues to a vertical depth of at least 1 km. Currently, another company on the Cadillac Trend is contemplating mining below a vertical depth of 3 km. Deposits in this region tend to have deep high-grade roots which can significantly extend the life of a mine well past early projections.
Additionally, the Company is confident that once Granada is in production, silver credits may become an important factor at this mine. Historical reports for Granada from the Royal Canadian Mint show that for every 100 oz. of gold refined, 18 oz. of silver was produced.
"Emerging Producer. Enterprising Explorer." - New GBB Corporate Presentation
Gold Bullion's new Corporate Presentation can be viewed on the Company's home page or by going directly to the following URL:
http://www.goldbulliondevelopmentcorp.com/files/Corp%20Presentation%20Part.pdf
Qualified Person
Claude Duplessis, P. Eng. of GoldMinds Geoservices Inc., consultant for Gold Bullion, has reviewed and approved the contents of this news release as a Qualified Person independent of Gold Bullion within the meaning of NI 43-101 regulations.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture-listed junior natural resource company focusing on the exploration and development of its Granada Property near Rouyn-Noranda, Quebec, and its high-grade Castle Silver Mine in Gowganda, Ontario. Additional information on the Company's properties is available by visiting the web site at GoldBullionDevelopmentCorp.com and on SEDAR.com.
"Frank J. Basa"
Frank J. Basa, P.Eng.
President and Chief Executive Officer
For further information contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
We seek safe harbour.
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